Do YOU have the 3 credit cards everyone should get? They’re practically essential for a strong credit card strategy, and they work well whether you’re into cash back or travel. Find out what they are (and get them)! Click “Show More” to see Ad Disclosure.
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CREDIT CARD #1: Core Card
This is the credit card that gives you a high return in specific categories where you spend a lot of your money. First, identify the top-spend categories from your monthly budget. Do you spend a lot at supermarkets? Restaurants? Travel? Then, determine the TYPE of rewards you want. These include cash back rewards and travel rewards (points and miles). Also think about the benefits that are important to you (like credits, elite status, VIP access, airport lounges, discounts, etc.)
There are 4 Main Types of Credit Card Rewards:
1. Airline Miles: BEST value when redeeming with 1 airline and/or its airline partners. Example: United MileagePlus
2. Hotel Points: BEST value when redeeming with 1 hotel chain. Example: Marriott Bonvoy
3. Flexible Bank Points: Typically EQUAL value when redeeming for any flight, hotel, rental car, cruise, etc. Example: Wells Fargo points
4. Transferrable Bank Points: BEST potential value when converting FROM bank points TO partner airline miles or partner hotel points. Example: Chase Ultimate Rewards.
CREDIT CARD #2: Supplementary Card
This can also be called your “Boost Card” or “Top-Up Card.” Its purpose is to fill a gap of at least 1 significant spend category that your Core Card doesn’t cover & do so with a strong rewards multiplier.
CREDIT CARD #3: Everything Else Card
This can also be called your “Catch-All Credit Card” or “Non-Category Card.” This is a credit card that earns 1.5% – 2.0% (or better) on all other purchases. The goal here is to earn more than 1% cash back or 1X points on your purchases that do not fall into set categories on your other cards.
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
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